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FORM B-17 (GENERAL SURETY/SECURITY) General Bond (With Surety/Security) to Be Executed by the 100% Eous/Units in the EHTP/STP/FTZ (Rules 9-B, 13,14 and 192) We

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FORM B-17 (GENERAL SURETY/SECURITY) General Bond (With Surety/Security) to Be Executed by the 100% Eous/Units in the EHTP/STP/FTZ (Rules 9-B, 13,14 and 192) We Form-B-17 FORM B-17 (GENERAL SURETY/SECURITY) General Bond (with Surety/Security) to be executed by the 100% EOUs/Units in the EHTP/STP/FTZ (Rules 9-B, 13,14 and 192) We/................................. having our registered office at ......................................... hereinafter referred to as the Obligors and .......................... called the surety(ies) (which expression shall, unless repugnant to the context or meaning thereof/ include our heirs, successors, executors, administrators, liquidators, legal representatives and assignees) hereby hold and firmly bind ourselves jointly and severally unto the President of India, hereinafter referred to as the Government in the sum of Rs. ....................... Rupees ............................. only) for which payment to be well and truly made, we, the obligors, bind ourselves by these presents. WHEREAS we the obligors have been granted by the Government an Industrial licence for setting up a Hundred Percent Export Oriented Undertaking for the manufacture of goods for export out of India on the terms and conditions stipulated in the letter of intent No.......................................... dated ................. and we the obligors have duly accepted the said terms and conditions. AND WHEREAS the Assistant Commissioner of Customs/Central Excise at .................................. has licensed/authorised the premises at................. as a private warehouse/unit wherein the dutiable goods, imported/ sourced mdigenously by us from time to time for manufacture of goods as aforesaid could be deposited for a period of 5 years/one year as the case may be without payment of duty on conditions specified in sub-section (1) of section 59 of the Customs Act, 1962, which conditions we the obligors hereby accept. AND WHEREAS on compliance with me provisions of the said Section 59 as aforesaid, the proper officer/Assistant Commissioner of Central Excise or such other delegated authority, as the case may be, has made an order under section 60 of the Customs Act and under chapter X of the Central Excise Rules, 1944, permitting us to deposit the aforesaid goods in the said pri/a!.? warehouse wid-iodt payment of duty. AND WHEREAS we the obligors having been permitted by the Assistant Commissioner, Central Excise/Customs at............... ........................... to purchase from time to time goods not exceeding the quantity listed in the Annexire-1 as may be required for manufacture of goods in his factory annually in the manner specified without payment of whole of the duty. AND WHEREAS the said Assistant Commissioner has permitted the ooligor to clear duty free imported goods from Ports/Airports/Inland Container Depots or Bonded Warehouses as the case may be, to the export oriented unit. AND WHEREAS, pursuant to sub-section (1) of section 65 of the said Customs Act, the said Assistant Commissioner of Customs/Central Excise has- accorded sanction to us, the obligors, on payment of the prescribed fee of Rs. ........................... (Rupees ..................................... only) and on prescribed conditions hereinafter set-out, which conditions we the obligors hereby accept, to carry on manufacturing operations in relation to the said imported goods. AND WHEREAS the Assistant Commissioner of Central Excise, Customs or proper officer under section 67 of the Customs Act, or Assistant Commissionar of Central Excise or such other delegated authority, as the case may be, under rule 13 of the Central Excise Rules, 1944 has permitted the obligors to remove the said goods from the said unit without payment of duty and despatch the same by air, sea, rail or road for export to foreign countries without payment of duty and when required bona fide to do so, or other EOUs/warehouses subject to the prescribed conditions set out for the due arrival of the said goods at the said warehouse. AND WHEREAS the Assistant Commissioner of Customs/Central Excise has permitted the obligor to remove the goods sourced imported/domestically or goods partially manufactured or processed therefrom to the any other place in India without payment of duty subject to such conditions and limitations as may be specified by him for the purpose of repair, refining, processing, testing job vrork or display and to be returned to the unit thereafter. AND WHEREAS the Assistant Commissioner of Customs/Central Excise has permitted provisional assessment of goods manufactured/ware-housed by the above Obligors from time to time which could not be finalised for want of full information as regard to value/description/quality or of the proof thereof or for the file:///C|/backup30/New Folder/B-17.html (1 of 4) [6/30/2000 1:07:49 PM] Form-B-17 non-completion of the chemical or other tests in respect thereof or otherwise, as per the provisions contained in the Central Excise Rules, 1944 as per request of the obligor. AND WHEREAS the Commissioner of Central Excise or such other delegated authority as the case may be, has required the obligor to deposit as security for the amount of this bond, the sum of Rs............. (Rupees ...............) in cash (the securities as hereinafter mentioned of a total value of Rs................. (Rupees ............) endorsed in favour of the President of India and accepted for and on behalf of the President of India by the Commissioner, Deputy Commissioner, Assistant Commissioner, Superintendent of Central Excise, namely .............) and whereas the obligor has furnished such guarantee by depositing the cash/securities as aforementioned. NOW THE CONDITIONS OF THE ABOVE WRITTEN BOND ARE THAT: 1. We, the obligors shall, observe all the provisions of the Customs Act, 1962, Central Excise Act, 1944 and the rules and regulations made thereunder in respect of the said goods. 2. We, the obligors shall, pay on or before a date specified in a notice of demand all duties, and rent and charges claimable on account of the said goods under the Customs Act, 1962, Central Excise Act, 1944 and rules/regulations made thereunder together with interest on the same from the date so specified at the rate applicable. 3. We, the obligors shall, discharge all duties and penalties imposed for violation of the provisions of the Customs Act, 1962, Central Excise Act, 1944, rules and regulations in respect of the said goods not removed within one year or 5 years as the case may be from the date of the order permitting the deposit of the said goods at the said warehouse/EOU, or within such further time as may be extended by the Chief Commissioner, Commissioner of Customs/Central Excise or by the Central Board of Excise & Customs, on a specific request made by us, the obligors and also pay interest at a rate applicable from the expiry of the above said period till the date of the clearance of the goods. 4. We, the obligors shall, furnish to the Assistant Commissioner of Customs/Central Excise at Port/Airport/International Container Depot/warehouse evidence to his satisfaction within a period of three months from the date of despatch from any warehouse or unit that the said goods have duly arrived at the unit or the warehouse as the case may be. 5. We, the obligors, shall be wholly and solely responsible for ensuring that there shall be no pilferage during transit of the said goods when despatched from the place of Import, the factory of manufacture, or from the warehouse to the unit and, vice versa, and we, the obligors, shall pay the duty on pilfered goods, if any. 6. We, the obligors, shall observe and comply with all the provisions of the manufacture and other operations in Warehouse Regulations, 1966, Warehoused Goods (Removal) Regulations, 1963 and such other conditions as maybe imposed by the proper officer/Assistant Commissioner of Central Excise or such other delegated authority, as the case may be for carrying out the purpose of the aforesaid regulations. 7. We, the obligors, shall maintain detailed accounts of all imported and indigenous goods used in the manufacturing processes and operations in proper form including of those remaining in stock and those sent outside under our obligation, and shall produce such accounts for inspection or the proper officer/Assistant Commissioner of Central Excise or such other delegated authority as the case may be, when directed by him. 8. We, the obligors shall, provide to the officer of Customs/Excise stationed at the warehouse for control and supervision of the manufacturing processes and other operations such amenities as may be specified by the Assistant Commissioner. 9. We, the obligors, shall pay all charges, including pay, allowance, leave and pensionary charges of such officer. 10. We, the obligors, shall fulfil the export obligation & conditions stipulated in Customs/Central Excise Notifications, as amended, under which the specified goods have been imported/sourced, as well as the Import-Export Policy for April, 1997 to 2002, as amended from time to time and to pay on demand an amount equal to the Customs and Central Excise Duties leviable on the goods as are not proved to the satisfaction of file:///C|/backup30/New Folder/B-17.html (2 of 4) [6/30/2000 1:07:49 PM] Form-B-17 Assistant Commissioner of Customs/Central Excise to have been used in the manufacture of articles for export and any penalty imposed under Customs Act, 1962 or Central Excise Act, 1944 and rules or regulations made thereunder as the case may be. 11. We, the obligors, shall discharge all dues whether Central Excise duty or the lawful charge which shall be demandable on the goods obtained by us without payment of duty from the domestic tariff area and transported from the place of procurement to our premises for use in Special Industrial purpose and shall also pay after final assessment by the proper officer/Assistant Commissioner of Central Excise or such other delegated authority, as the case may be, which were assessed on provisional basis under Rule 9B of the Central Excise Rules, 1944 all dues within 10 days of the date of demand thereof being made in writing by such officers.
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